The group said it did not take part in Black Friday discounts and held off from discounting ahead of Christmas, despite heavy promotional activity across the high street.

Mr Rowe said he did not regret the decision, which meant it went into the post-Christmas sales with around 25% less stock – its smallest sale for five years.

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He added that the group saw a late sales surge, due to the extra weekend before Christmas.

As with other food retailers, the group suffered pressure on sales from falling inflation, with M&S prices falling around 2% in the quarter as it lowered prices to shift away from promotional discounts.

But Mr Rowe said he was encouraged by the “first steps” to turn around the fortunes in its food halls.

The figures come at a time of severe upheaval at the chain.

M&S recently drafted in former Sainsbury’s boss Justin King to join the board as a non-executive as the high street firm undergoes the next phase of a drastic transformation plan under Mr Rowe.

As part of the programme, spearheaded by Mr Rowe and chairman Archie Norman, M&S is seeking to save costs through store closures, shutting distribution centres, streamlining its corporate structure and ramping up digital operations.